I’m looking to buy a 2024 rav 4 prime in MA. There are no rebates for purchase but if I lease I can get a $6500 rebate off msrp. For the sake of discussion let’s say msrp is 47k and with the rebate it is $40,500. If I were to lease the car and then buy it out 3 weeks later will my payoff amount be $40,500 less any lease payments? I’ve never done this before so just want to make sure I’m not missing anything.
It seems too good to be true that for jumping through one hoop I can save $6500 off the purchase price. Has anyone done this? Is it really this easy?
Ive read through the forums and they all get so convoluted with specific details and options. Also I have not been able to find a post with anyone’s actual buyout contract.
I would also have trade in that would bring down the $40500 to about $37,500 and then of course the ancillary fees and taxes that go on top. I have a $38,160 bottom line lease number from my dealer right now inclusive of acquisition and doc fee now so in reality would this be be my buyout (plus tax) Doe the trade in reduce the buyout price?
I just wanted to make sure I fully understand this. It seems crazy that if I just “lease” the car then buy it out cash a couple weeks later I can save 5-6K pending fees I would not pay had I just gone with a straight buyout at the $47K number. Attached is what I have from the dealer
That was a buddy of mine helping me out. I was not part of leasehackr so he jumped in. I figured I would take the conversation back so I could stop bothering him. This forum is a huge help
Just got this lease offer for a 2023 rav4prime. Seems like there is little difference between a 2023 and 2024. The 2023 has 29 miles vs 2024 has 5 miles both are brand new. I can get zero down on the lease it’s just not noted here. If i were to put 3500 down is a portion of that treated as “rental” or “interest”? Since I’ll be buying out in a couple weeks I don’t really care about the cash but if I will not realize 100% of that down payment against buyout cost I will choose zero down.
I’ll go zero down. Carvana says 3500 and car gurus says 2400. I have one dealer at 3500 and one at 2000. I’ll probably just go trade in to lessen the hassle and keep it single source.
This has all been very helpful. Hoping to finalize things by Tuesday. I’ll post final details to help people in my situation.
Are these from different dealers? There is no difference between the 2023 and 2024 Rav 4 Prime vehicles. The 2024 had 3500 trade credit versus only 2000 for the 2023. See if you can get the 2024 dealer to provide a discount beyond the rebate. If not, see if the 2023 dealer will increase the trade credit to match the 2024 dealer. In other words, play them against each other to see where you get the lowest total cost.
Honestly for a total difference of only $400, I would go with the 2024 all else the same. Does one have different features from the other?
Also note that putting $3500 down on the 2024 results in a lower payment than the 2023, but that does not matter if you are buying it out immediately. You may not want to put anything down. You will also be on the hook for 6.25% sales tax when you do the buyout so save the money for the taxes.
How long does it take from when you sign the lease to when you can access your TFS online account? Does the lease paper work take a couple weeks to get mailed out?
